Friday, July 11, 2014

Ron Paul Testimony for House Committee Hearing Demands Federal Reserve Audit

-Ron Paul
The House Committee on Financial Services is holding a hearing today on legislative proposals to reform the Federal Reserve on its 100th anniversary.

I’m pleased with the fact that the hearings are being held, but disappointed that my original bill to audit the Fed is not included in the discussion. The legislation being discussed at the hearing is not a true audit bill and serves as a distraction from what is needed.

Congressman Paul Broun’s bill H.R. 24 is the one they should be passing, not the watered-down version H.R. 5018. I sent the committee my testimony for the record and explained exactly why more needs to be done. The American people are with us on a full audit and, after the next crisis hits, they will be with us on dismantling the Fed and restoring constitutional money.

Below is the full text of my testimony submitted to the House Committee on Financial services: